GOLD: Metanor files PEA on the Barry project

VAL-D'OR: Metanor Resources Inc. is pleased to announce it has filed the NI 43-101 Technical Report Preliminary Economic Assessment (PEA), Barry Gold Project, Québec, Canada, in support of the press release published September 22^nd 2016. The preliminary economic study completed by Geoservices Inc. GoldMinds, on the Barry gold project (Mining Lease number BM 886) located 100 km east of Lebel-sur-Quévillon and 115 km south of the Bachelor Mine in Quebec, establishes the following (CAD dollars):

• Net present value (NPV) before taxes (at 6%) of 53.5 M$;
• Internal rate of return (IRR) before taxes of 198%;
• NPV after taxes (at 6%) of 25.9 M$;
• IRR after taxes of 94%;
• Capital startup of 8.5 M$;
• Payback of 0.71 years with a gold price of $1,560 / oz;
• All-in production cost of 1,114$ / oz (US $891 / oz);
• For the life of the mine, a production of 193,457 ounces of gold over 9 years;
• An average of 21,495 ounces of gold production with up to 37,573 ounces in year 2;
• Milling of 1,200 tonnes per day at the Bachelor plant, with an average grade of 1.75 g/t diluted for the life of the mine including the first 3 years at 2.61 g/t with a metallurgical recovery of 95%;
• Strip ratio of 2.17 to 1.

The additional details are available in the technical report as well as in the September 22^nd press release. For full details, please visit www.metanor.ca.